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What Is Matched Betting?

Matched Betting is the process of betting for and against the same outcome. Seems strange, betting for and against the same thing, but it allows you to make guaranteed profits by taking advantage of bookmaker’s sign up offers.

What does Back mean?

When you bet that a certain outcome will happen, you are backing that outcome. So imagine Manchester United are playing Liverpool this weekend. You fancy Liverpool for the win, so you place a bet. You are now backing Liverpool to win.

What does Lay mean?

Laying is pretty much the opposite of backing. At a Betting Exchange, you have the ability to back or lay an outcome. So in the same example as above, you could bet that the Man Utd. v Liverpool match will not result in a Draw. So you would therefore be laying the Draw. So if Man Utd or Liverpool win, you’d win your bet, if its a draw, you’d lose your bet.

What is a Betting Exchange?

An Online Betting Exchange allows user to bet against other users. At a Betting Exchange you are in theory, the bookmaker. You can set your own odds and see if another user will take those odds. The main difference between a betting exchange and an online bookmaker, is that at a Betting Exchange you have the ability to Lay an outcome.

What does ‘Partner Friendly’ mean?

Partner Friendly is a our way of saying that a bookmaker is happy for you and your partner (and other people who live at your address) to register for an account to claim a free bet. About 30% of bookies are partner friendly, and 70% only allow one free bet per address. So for ‘partner friendly’ bookies, it’s worth getting your partner or others living at your address to claim their free bet too.

What is a Stake Returned Free Bet?

When a bookmaker offers a free bet as a sign up incentive, they will either offer a stake returned free bet or a stake not returned free bet. It is important to understand the difference between these two types of free bet. If you receive a stake returned free bet, this means that once you have placed the bet, if your bet wins, you will receive the free bet stake back aswell as your winnings. If you receive a 10 Stake Returned Free Bet from Bookmaker X and bet on an outcome at 2/1. You will receive back 30 if your bet wins.

What is a Stake Not Returned Free Bet?

When you place a bet with a stake not returned free bet, only the winnings are returned to you if your bet wins. If you receive a 10 Stake Not Returned Free Bet from Bookmaker X and bet on an outcome at 2/1. You will receive back 20 if your bet wins.

Why do the bookies allow matched betting?

Firstly, the bookmakers essentially get a new customer, so therefore it’s up to them to entice you to use their services. Getting new customers is valuable for any business.

Secondly, there’s a good chance that you’ll lose your bets at the bookmaker (but you’ll win at Betfair instead). When you lose a bet, the bookie makes a profit. Therefore if there’s a high chance that the bookie will make a profit from you when you are doing matched betting, why shouldn’t they want your custom?

How do I place a bet on Betfair?

We’ve created detailed instructions on How to place a bet on Betfair. It’s actually not that complicated!